SOL has recently shown strong performance. As of the latest quote, Solana has stabilized at $141.9, forming three consecutive bullish candles on the daily chart, with a single-day increase of 1.66%. In terms of trading volume, the 24-hour trading volume has surpassed 502 million USDT, indicating a significant increase in market participation.
From a technical perspective, further attention is warranted. The 7-day moving average has successfully crossed above the 25-day moving average, indicating that the short-term trend is indeed strengthening. The current price is above the medium- and short-term moving averages, which is a relatively favorable position. Regarding resistance, $144.3 is near the previous high point, and a volume breakout above this level could see SOL aiming for the psychological level of $150. Support below is around $138.5, where the 99-day moving average intersects with the previous platform zone.
However, it is important to note that although the short- and medium-term outlook is positive, Solana's recovery process is still ongoing on a longer cycle and has not fully reversed yet. It is recommended to closely monitor US stock movements and capital flow changes overnight. Avoid blindly chasing highs; a more prudent approach is to wait for a pullback and stabilization before considering new positions.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
SOL has recently shown strong performance. As of the latest quote, Solana has stabilized at $141.9, forming three consecutive bullish candles on the daily chart, with a single-day increase of 1.66%. In terms of trading volume, the 24-hour trading volume has surpassed 502 million USDT, indicating a significant increase in market participation.
From a technical perspective, further attention is warranted. The 7-day moving average has successfully crossed above the 25-day moving average, indicating that the short-term trend is indeed strengthening. The current price is above the medium- and short-term moving averages, which is a relatively favorable position. Regarding resistance, $144.3 is near the previous high point, and a volume breakout above this level could see SOL aiming for the psychological level of $150. Support below is around $138.5, where the 99-day moving average intersects with the previous platform zone.
However, it is important to note that although the short- and medium-term outlook is positive, Solana's recovery process is still ongoing on a longer cycle and has not fully reversed yet. It is recommended to closely monitor US stock movements and capital flow changes overnight. Avoid blindly chasing highs; a more prudent approach is to wait for a pullback and stabilization before considering new positions.